Picture du Jour: Is gold in a bubble?

Many “experts” remain skeptical about the performance of gold bullion and often contend gold is in a bubble. The chart below, courtesy of Casey’s Daily Dispatch, casts some light on whether the barbarous relic is displaying bubble characteristics. You be the judge …

Meanwhile, from across the pond, David Fuller (Fullermoney) commented as follows: “… my guess is that we may be no more than approximately halfway through gold bullion’s secular bull market. I remain somewhat cautious about gold’s short-term outlook but I am a long-term bull.”